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tv   FOX Business After the Bell  FOX Business  September 13, 2012 4:00pm-5:00pm EDT

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bit. it could close at a high. nicole: apple is exciting. whether you bring out enough, somebody did because the stock took off and all the analysts, a thousand dollars price target. dave: analysts would agree today is a ben bernanke rally. a number of them on wall street. particularly since quantitative easing began. the biggest day in quantitative easing since it all began. let's look at how the stocks are finishing up. the dow is up 1.5 points. all the stocks are between 1-1/4 and little bit over to the plus side. the s&p gaining the most percentagewise. look at this. the s&p had 1460. this is an s&p that is up tremendously since those lows in june and the nasdaq picked up nicely. we talked about apple small and midsize stocks also, the russell
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2,000 represented up 1.3%. when the bell rings the action begins. we have a pact hour. representative ron paul. we will talk about today's fed decision and the situation in the middle east which he would like to defunded the lot of people with him. legendary tv and radio star larry king is with us after attending every political conventions 1964, interviewed all these guys. what does he make of the current crop of political candidates? first we tell you what drove the markets with today's data download. stocks soaring after the fed announced a third round of quantitative easing saying it would buy $40 billion of mortgage-backed securities each month. the dow closed at its highest level since 2007 and the nasdaq at the highest level since november of 2000. bold searching 2% to entice level in seven month. the precious metal jumped as
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high as $17.56 before settling at $17.72. market risk is back as the so-called fear gauge falling 10% following the fed's announcement. let's get to today's action. we have allen in the pits of the cme where he is ready to cough. they have been screaming loud and furious. the managing director at zephyr management and michael cox is a former chief economist at the dallas federal reserve. let's get right to it. asking you the same question i asked. does this rally have legs? >> i think it does. do wants to go short? even though the risk reward level might be more beneficial to take a turn and see if it will drift downward. we have achieved the objective. they traded at an 8 year long
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range in 2011 between $12.50 -- 100 point range. at 1350 that projected 1450 is so overall terms so the question is now what. that is the key turtle question. you don't want to step in front of it but you don't want to jump into equities at these levels. if you look at crude it looks like it have a $4 popped to break above 100 because it didn't participate on a rally and holding an 98 after trading in a range for the last month between 95-98. dave: how many people will go home tonight booking all the money they made in this market last couple months. i will cash in these. >> you may get some of that, and alternatives to equities and bond rates are low. the u.s. is growing and
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corporate profits are growing and stocks are not relative to interest rates or inflation so that is the good news. there's a lot that can go on. we can have an accident in europe if we have an election and political uncertainty and fiscal issues we have to deal with and there could be a war in the middle east. short-term is still up but there is a lot that can go wrong. dave: the economy is growing. the overall message we will debate whether ben bernanke did the right thing but the one thing there was no sugar coating on for ben bernanke is this economy is in very bad shape. i am wondering if ben bernanke thinks it was necessary to do what he did in order to keep away another recession. what do you think? >> not recession. even slower growth. this is the worst bounce back to recovery since the great depression. this economy is very weak. if you look at the recent performance of price level
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inflation has flown from 4% during the count fell 1.4% and only 1% over the last six months. weakness in the economy is driving increased demand for money and safety and security so despite the increase in government that rescue these foreign banks and so on you are seeing lower inflation. the fed did what it did not to prevent another round of deflationary but what was getting to be dangerously low inflation. i don't think this market can have legs and sustain itself on the basis of ben's policy. you have to look to better fiscal policy and look to change in leadership in washington. dave: does it worry you what the fed was saying which this economy is in bad shape and needs all of these actions in order to get going again? >> that is the job of the fed. they have a dual mandate. [talking over each other]
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dave: their job is not to make sure the market goes up. their job is to make sure unemployment stays down and they have failed at that job. >> that is one of their mandates. they are here to prevent inflation. obviously we are not in an inflationary environment. the employment issue is obviously a bigger issue for more people but unfortunately corporations are doing the best they ever have because of the efficiency. getting people trained for the job out there we had a recent record in the number of available positions but don't have people trained for those positions. the market doesn't care. we are talking nonsense at this point. the market doesn't care and we're seeing all-time record profits in corporations and that is how you measure the economy. dave: if the slowness of the economy hits corporate earnings because as we just heard from meg whitman, hp is doing okay but they are firing people.
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they are letting people go to become more efficient. that is why their bottom line looks better and you multiplied that by hundreds of companies from the united states that is why unemployment stays frustratingly high. won't that eventually hurt corporate profits? >> there is a lot that can go wrong and the fed was trying to minimize the risks if things go wrong from here but if you don't believe in the government and you don't believe in the u.s. currency because they are throwing so much money at it and you don't believe in government that when you do want to own are shares in corporations because they are the strongest entities in the world with a global footprint, good balance sheets. in a sea of uncertainty and lower returns one of the things you want to learn is a share of a growing stream of earnings and dividend and speculate by low-quality stocks, there is a lot that can go on but you want return and you do have to own
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the higher-quality companies and the global footprint. you have to have some of your money in those. dave: there was one this sense that this vote. you think richard fisher, head of dallas fed where you used to work if he was a voting member as he used to be that he would be another dissenter? >> i am not sure about this. typically yes but inflation dropped to such a low-level it is occurrence on the -- cause for concern among all fed members. i agree with your last speaker that one is driving the u.s. stock market, the fact that a lot of the dow 30 companies' sales are coming from abroad. 40% of revenues down 30 stocks, if you want to get ahead of this even with the united states economy week you hit foreign groups and foreign consumers whose incomes are growing 7% to 9% and the stock market can still xl and in a weak u.s.
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economy. dave: one of the purposes of the fed doing this is to get banks to lend more money out to make it cheaper for business to borrow money from the banks. one thing that the fed didn't do, they didn't do everything. one thing that the boston fed president suggested they do is to lower that 25% basis points banks get for keeping their money in deposit overnight. why didn't the fed do that? if they lowered that rate they get less money for parking money and it might make the more anxious to get money out in the economy. >> don't have a good answer. it should never have been instituted during the recession. it was in play for 20 years before it happened and a great reluctance to take it off. it is a mistake. if we look at the bank reserves relative to deposits they had never been above 4% since 1959 and it has gone to two thirds of
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1% in december of 2007 but now bank reserves relative to deposits hovering around 18%. banks are not loaning of the money out as much and we need to do everything we can to encourage them to do that. i personally think one thing we could do is relax real policy and regulations that strangling banks not just from the fed but also from all the other regulatory entities. dodd-frank and so on. it is a difficult environment in which to make a loan. you make a $10 million loan. dave: bar winfrey house or business. lower rate so far have not done much. it is not a stimulus from the fed because the economy has been growing at a slower rate. do you think these moves will do anything more to get the money out there for the banks? >> each of these is proving less effective and creates greater
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long-term uncertainty how you and do these moves if and when they need to be undone so i think the fed is near the end of its gain but was an insurance policy you could argue for or against. they shouldn't do more after this. this is a massive distortion of the real economy and at some point you got to let the economy work its way out and we have to fix our fiscal problem rather than add more money to the system. dave: thank you very much. good to see you all. tv and radio legends larry king is covering the presidential convention since 1964. what does he think of this year's elections and this year's candidates? the federal reserve announcing another large round of money printing. ron paul and ben bernanke's worst nightmare in many congressional hearings is calling for an audit of the fed forever. will he now call for an end to the fed on fox business? we will ask him why coming up
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and liz claman joining us live from three days in the valley with semiconductor giant applied materials and the lot more ahead right here on a very busy hour of "after the bell". [ male announcer ] what if you had thermal night-vision goggles, like in a special opsission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep, you'd be targeting stocks to trade. well, that's what trade architect's heat maps do. they make you a trading assassin. trade architect.
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dave: shares of sears down in today's session. back to nicole petallides and the stock exchange. that is against the grain of what the market did day. nicole: we saw record highs for the averages for apple and all kinds of stocks and sears is under pressure. it is a winner year to date but it was down 2%. when you think of sears and think of ron johnson coming in to turn around a company talking about promotion and no promotion now we are hearing that nordstrom is expanding in canada and some places they are expanding our recent outlets that seers will now vacate because they're not getting the sale. three of the four places that
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they are going sears is getting out so it will be interesting to see what happens. in the last hour when you think of sears the fact that they were booted out of the s&p 500 certainly an uphill battle but stock has not reflected that. a clear winner year to date but the question is whether they will have sales and growth that they need. dave: economy is as bad as ben bernanke says it is retailers could be hurt even more. in the last hour i don't know if you saw it. liz claman sitting down with hewlett-packard and meg whitman in a fox business exclusive and despite the rise of tablets in the industry meg whitman remains auburn is -- optimistic about the future of the pc. >> the pc is not dead. that is what people say in the media but it is not true. it may be slower growth than it was in the past but computer is here to stay. computing needs will continue to grow and we want to be the company that really delivers the
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device that you want. dave: still bullish on the pc. how will pc demand affected equipmentmakers? liz claman joining us from three days in the valley. liz: we are here inside the lab of hewlett-packard in a fox business exclusive and i want to bring you into this particular lab and you can see when they are doing their research to make sure the pc equipment isn't that you put on the gloves and stick it in and work on any kind of innovation but that is a perfect question. how will slowing pc demand affect the equipmentmaker? the number one chip equipmentmaker ceo, great to see you. it already affected your current quarter numbers. the current quarter outlook disappointed some analysts. will you make your numbers? >> talking about our quarter, we made a projection that we believe in and we believe in it
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today and what is really happening in our business right now is we are being more affected by consumer spending than driven back when they need equipment to make these chips that go into some any mobility products we are seeing. cheryl: they're spending a lot on ipads but not on things that they are waiting for windows 8 but what specifically are you talking about? >> mobility products. tablets. smart phones. these devices are using more and more silicon every day. that is good for us and the equipment industry and the semiconductor industry overall. liz: where do you see real strength and weakness? >> the biggest part of the strength for us is in the boundaries. they have been strong last few years. the biggest weakness in those
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companies, these mobility boxes haven't increased. as fast as we thought it was a few years ago. liz: we talked to paul otellini, one of your customers and his concern about his numbers came from lower than expected growth in china and brazil which surprised me because latin america has been going gangbusters. everyone ramping up and buying their first pc in a developing nation. what do you see globally? >> we are concerned about europe and china. europe has been the story for long time of what is going to happen and what will really drive recovery and get stability and recovery and in china, with growth may be some 8% this year, we will see more stimulus before the end of the year but that blow growth in china is problematic. we need to create more jobs than a slow-growth economy would
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create. liz: one trend people looking getting your business is there may be more consolidation in the chipmaker themselves. several customers are acquired or go away that looks like a negative trend. can you shed light on what you expect? >> our customers are already pretty consolidated. a major part of our business already today, it is already consolidated as well. liz: three of your businesses. >> it varies. much bigger than 50% of our business or determine that much our business. liz: federal reserve today announced a gigantic bond buying plan q e 3. i know you have been concerned about the picture of the economy and written letters to the president's. what do you make of this? is something we needed or just adds to the death of this
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nation? >> i wish we didn't but this allows easier credit for small business and they have the base of the economy. in the end it might be good but we have to see as we progress through the end of the year into next year as the program rolls out. the stock market likes this. liz: your stock likes it too. applied materials move fire by 2%. as we finish up what would you want people to know about your business? has been tough going as your people by pcs and more people are buying mobile devices. >> it is in the bottom and we are expecting that next year is going to be a pretty strong year. we think coming in to the fourth quarter our customers will start buying again and -- liz: windows 8. >> all consumer buying. will be due to windows 8 assuming that is going to catch on in the fourth quarter and i am expecting more from windows 8
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and 2013 than as stronger up left. liz: there is some news. watch for 2013 vs october when when those 8 hits the market. like splinters chairman and ceo of applied materials. the world's largest semiconductor equipmentmaker. back to you. liz: i love those laboratories. dave: coming up going one on one with tv and radio legend larry king. he has covered every election since 1964. this year was not any different. he was that both of those. how does this compare to others? we will ask larry king coming up and the fed announcing it is going to keep printing money. a lot of it. is that what the economy needs? we will ask one of the most vocal critics of the fed, congressman ron paul on a fox business exclusive interview coming up.
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dave: two month from the presidential election the next broadcaster has covered every race since 1964. tv and radio legend and spokesman, larry king. wonderful to see you. mr. king was your dad. [talking over each other] >> getting old and both forgetting, and not much good about it. >> a wonderful restaurant door in washington, no golden years. the only thing good is your
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still around. dave: you were around for a lot of conventions before this and the middle east news, and the economy. is it conceivable the middle east might play as big a role in this election as in 1980 with the iranian hostages? >> in all these years the one thing we know we don't know. we don't know what the voter thinks when they go into that booth. at very special time in america when they pull the plug. to o'neill said all politics is local. if that is true the middle east will be incidental. was important in 1980 because we had hostages and jimmy carter was caught in a trap and we have got on a white horse. there is no reagan in this race. there is no carter in this race. this is going to be close. with the middle east player apart? who knows? let's see how this develops. let's not jump the gun. we do that too much.
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dave: were you surprised at the way in which the president has been able to hold onto his numbers despite the economy? >> there is something to be said about likability. people like him. if you are liked you got to step ahead. doesn't mean you win but they give you an edge. that edge normally in this economy you should be behind. they are getting used to romney. he might be a middle staff. not the greatest campaigner that ever lived. the debate will be very important but obama is like to. that gives him a point up. you like him. they want to give him a second chance. maybe that is true. his best thing going for him is bill clinton because there is no politician in all my years of covering politics, interviewing presidents in never met anyone like bill clinton. dave: even ronald reagan? i was watching the interview with reagan after the assassination, who could go through an assassination attempt
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and be so affable? >> first question is what is it like to be shot? he said he didn't know he was shot. reagan was a great guy but clinton had a magic. he had tremendous knowledge of the world's and a great way to express himself and i tell you this about clinton. you could be his political opponent and not like him and put him in a room for five minute you like him. dave: even mondale when debating with him when reagan came out with i will not hold your inexperience and age against you mondale had to laugh. >> there are no reagans and clinton isn't running. dave: we have an awful economy. we just heard how awful it was from ben bernanke. worse than people thought it was. in those circumstances doesn't being a fixer of an economy from being a likable guy? >> he has to be specific how he is going to fix it. so far we have not heard
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specifics. what you going to do? cut what programs? if he says i am going to cut aid to dependent children that will make a lot of people angry. we got to know more specifics. in this kind of economy it should be different. why isn't it different? as all pundits we don't know. dave: clint eastwood. one of my idols. how did he do? >> he made a mistake. the mistake was the reference to you can't do that yourself. that doesn't play. it played in that house. didn't play well across the country. dave: he is an iconic guy. >> his baseball movie -- dave: what is that? >> a wonderful organization. our symbol is gee pc hmmm. grand ambassador. never thought i would be a grand ambassador and they represent seventy-one million americans.
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the average age of a grandparent is 55. ten thousand people retire every day. grandparents are an essential part of the economy. they account for 70% of the economy and this is kind of not an alternative. an adjunct to the aarp. one thing about grandparents. we do not editorialize. we don't take stands and we don't lobby. we service the grandparents and great grandparents of america and you'll be hearing a lot more about us. i am happy to resent -- represent them. dave: when we hear about larry king i am happy. i am a step grandparent. >> that is the same thing. dave: thank you so much. great to see you. he has been calling for an audit of the federal reserve years. now that they have turned it on again is the case getting stronger? ron paul joining us in a first on fox business interview coming next.
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through mercedes-benz financial services. david: it is time for a look at today's market drivers. stocks soaring after federal reserve announced a new round of bond buying. dow hitting highest level since 2007. touching levels not seen since 2007. the dollar weakening for third session of volatile reaction. green back fell to the lowest level in nearly five months with the euro briefly crossing $1.30. oil getting a pop from the fed. crude rose a $1.30 settling at $98.31 a barrel. this is four-month high. the fed made as we mentioned all day, huge moves, including plans to increase money printing indefinitely. open-ended as they say. will this have the desired effect of giving the economy
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a boost? here with me is congressman ron paul in a first on fox business interview. congressman, wonderful to see you again. very open-ended. what do you think of this open-ended policy of the fed? >> well it hasn't working for four or five years now. it will not work this time. you think wall street loves it. i guess they think about economics differently than i do. just creating new money will create wealth. does it restore confidence in the economy? it is rather bizarre. i think the point you made in your introductory statement the fact that the dollar is weaker. gold goes up. a devaluation of the currency. and one day we're going to wake up and realize that the economy hasn't recovered. so real wealth in those stocks, just isn't there. so, now it hasn't worked yet. it is not going to work. if it did work that means we wouldn't have to work anymore. we could print money and everybody would be happy and the world will always take our dollars. it is not going to happen.
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we might seeing beginning of the end right now. david: wall street loves it. banks love it of the because they get free money. fed's mandate is not to pump up wall street. the fed's mandate to pump up the economy itself we heard from ben bernanke is getting weaker despite altman any printing from the past. >> he is not achieving what his goal is. he says that is his goal. he is not designed to prop up wall street but he keeps propping up wall street and he doesn't create any jobs. it proves that economic planning through manipulation threw money and credit doesn't work. it creates bubbles. it creates the problems. you can't solve this problem by doing more of the same. so some day we have to wake up and challenge this whole concept of central economic planning through central banking, as well as keynesian economics that we should have intervention in the economy because we're witnessing the failure of that whole system of economic policy. david: well, he doesn't think it is a failure. here is what he said in his jackson hole speech in august. he said quote, central bank
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security purchases have provieded meaningful support to the economic recovery while mitigating deflationary risk. which you would say? >> unemployment is still up. he is complaining about the unemployment. the standard of living has not gone up. the standard of living has gone down. he declared he doesn't work to have inflation. the truth is he is practically playing for inflation to liquidate this debt. this debt can not be paid. you can default which we won't, we'll continue to pays bills. you have to pay back with something cheaper. they want to liquidate debt through inflation. he believes in his own mind, only if we get inflation going and start liquidating debt and we'll get back on our feet again. i will stop the inflation when i have to. if he hasn't been controlling that last five years, when inflation gets more accelerated he doesn't have control over it and he won't admit it. david: our own peter barnes
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asked a question that is bothering a lot of people. the suggestion that he may be trying to reelect president obama mitt romney has said if he is elected president he would not reappoint ben bernanke and people who think like him. do you think that ben bernanke is taking sides in this election? >> you know, i'm a cynic and i don't like central banking. i don't, jump at chances to bash bernanke. i thought it would, say that, he is probably more worried about his reputation and he think he honestly wants to prove his economic theories work because he put a lifetime into it. and think of much time and effort he put into studying the depression. if i'm right and he is wrong, it destroyed his whole thesis of the last 30 or 40 years. he thinks more about that whether he does get reappointed. he wants to be proven right on these issues shoes. i think he is truly academician rather than a
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party player and only doing this for obama. but there is a history that federal reserve chairman have in the past tried to accommodate the president. david: it happened a couple times. perhaps not this one. the middle east finally on the middle east, does it make sense for us to give money to countries in the middle east that can't or won't protect our own embassies there? >> i don't think it makes any sense to give anybody any money overseas unless you or i voluntary give it to them. my belief in the constitution and my belief in foreign policy we shouldn't try to buy friendships because they're not long-lasting. we bought friendship with mubarak. it wasn't worth a investment of 40 or $50. was supposed to be friends with israel. radicals taken over both in egypt and libya. i think israel is more endangered. that's why i take the position that we shouldn't be doing it. so, no, we shouldn't be handing out money and i don't like to hand out money on conditions either.
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that means as long as you do what we tell you to do we'll give you the money. but besides the economic argument is the best one. we don't have any money left. we have to go to bernanke and say give us 10, 20 more billion so we can hand out this money for a policy that doesn't work. david: congressman i have to go. but a one word answer are you ever going to endorse mitt romney for president? >> probably not. david: those are two words but succinct. congressman ron paul, thank you. >> thank you, david. liz: led back to liz claman, has exclusive look at hewlett-packard offices. liz? liz: they have been left untouched since hewlett and packard finished work in the company. here they are, dave hewlett, bill packard. i want to look inside the original offices of two guys who met in college at stanford. this is bill hewlett's office. they put in cork board and
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carpet. they said it would be too excessive. they wanted to remain to the original roots in the garage. change still on here, people add to it today. because bill hewlett always left one penny on his desk. he wanted to see if anybody would steal from the founder. nobody did. they always had their doors open to yell and talk to each other. this is dave packard's office as you go in. the open door policy is real. we have prove the doors never closed. look at floor, where the sun hits, always these doors were open. there is a little string of hp genetics inside apple computer that i want to quickly tell you about. steve jobs in 8th grade called bill hewlett, i'm an 8th grader. i have a science project. is there anything you can give me? bill hewlett left him a bag of equipment that came from hewlett-packard. when you think how apple
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started, you can say it goes all the way back to hewlett-packard. we'll be back with much more on "after the bell." stay tuned.
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>> i'm adam shapiro with your fox business brief. the bulls were clearly in charge of wall street today as investors cheered the federal reserve's decision to take action and help stimulate the u.s. economy. the blue-chips are on track for the best week since the end of july. online real estate company zillow is suing rival trulia for patent infringement. they allege the estimate feature how it determines the value of a property infringes on its z-best estimates patent. isis has delayed its trial run. the joint venture between
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verizon and at&t and t-mobile was set to start trials this month in salt lake city, utah and austin, texas. isis one of several companies trying to roll out a broader system of mobile payments which would allow consumers to pay for goods and services by using their smartphones. that's the latest from the fox business network, giving you the power to prosper. ighten. hey, bro. or engaging. conversations help us learn and grow. at wells fargo, we believe you can never underestimate the power of a conversation. it's this exchange of ideas that helps you move ahead with confidence. so when the conversation turns to your financial goals... turn to us. if you need anything else, let me know. [ female announcer ] wells fargo. together we'll go far. has oats that can help lower cholesterol? and it tastes good? sure does! wow. it's the honey, it makes it taste so...
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well, would you look at the time... what's the rush? be happy. be healthy. less expensive option than a traditional lawyer? at legalzoom you get personalized services for your family and your business that's 100% guaranteed. so go to today for personalized, affordable legal protection. david: time for a quick speed read of the day's other headlines. first up, foreclosure starts fell on annual basis. that is good news. a new report by realtytrac shows number of foreclosures falling 13% compared to a year ago. a class-action suit is accusing dan nan's act teva products falsely labeling yogurt. using fillers, water, cornstarch and milk protein concentrate. lamborghini is recalling 1500 models because of a
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power steering leaks. it affects models sold from 2004 to 2006. the models start at 200 grand. >> spotfy may be worth up to $4 billion. the $4 billion value is nearly double the estimated $2.2 billion value last year. mcdonald's will enlisting calorie information on restaurant and drive-through men use next week. the world's largest driv drive-through chain plans to test men use that will include recommended items by the u.s. department of agriculture. [buzzer] that is today's speed read. one company is changing the way you can store files online. it is taking the cloud industry by storm. you want to make money on the cloud. this has 120,000 clients. this is one of the fastest growing companies in silicon valley. will talk to the ceo of box. that is coming up next. dry mouth may start off as an irritant.
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david: this is a great story. they started in a college dorm room using online poker winnings as their funding. they're one of the fastest growing companies in silicon valley. mark cuban is one of their top investors. let's head back to the hp labs in palo alto for this
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story. liz? liz: one of the things we do in "3 days in the valley" not only profile the bigwigs like meg whitman of hewlett-packard but startups. is the perfect example. i want to introduce you to the founder and ceo. his name is aaron leave very. when i look how much money you got in investment, 280 million people in funding. that says the people in the valley think you have a good deal. what is explain to our viewers? >> sure we've been fortunate to have investors like marc andreessen and, so, some institutions and firms that really have invested in a lot of the future of interprize software an technology. what we do at box we help businesses manage and store and share their data anywhere from any device and with anyone. we have about 13 million users on the platform. about 92% of the fortune 500 users use box in some way.
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we're really trying to power the next generation of businesses that will do marketing and sharing their date. liz: they have a list of customers anywhere from proctor & gamble to stanford university but how do you make your money? >> the business model is pretty straightforward. you as end user can sign up the product for free on your phone and store the data on the cloud or securely in our servers. the business which you work wants to have more security or more functionality that lets you scale the product within your enterprise then those enterprises pay us $15 per user per month for that product scaled in an organization. a really simple business model. liz: what i find fascinating you're like a fedex story. fred smith started it as a college product or at leech lore that it did. you started at usc and got so successful you dropped out. usc. >> we got lucky. internet there wasn't that much innovation. 2004, 2005 we started
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company. we got lucky people started to sign up to the service. they were attracted to it. mark cuban initially funded the company. that was incredibly exciting. we left school and came up to the bay area and been building it up ever since. liz: when i think of storing in the cloud, who is your friend who is your foe. let me throw out a name. microsoft, a friend or foe? >> that is could ot it tition. liz: that is new word. >> so we cooperate and work with them in some of their new device categories but compete with them in services that help you collaborate and store information. we think we do it better in some areas. liz: you just hired away, luring talent, sam of google docs. >> yes. liz: what will he do for you? that is big hire. >> we brought in sam to help run box vp of engineering. he was creator of google docs. let's you do real time
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editing on the web. shows the future of online documents. he is coming to box to help power that future managed content. liz: aaron levy represents the spirit of a startup in silicon valley. complete as you can see with the orange tennis shoes. they have a big yellow slide in their headquarters. we'll stop by next time. >> cool. liz: good to see you. aaron levy of david, a classic example of the theory and excitement and entrepreneural spirit in the value. david: does what all the silicon valley people do. he begins every sentence with the word so. i haven't met any --. liz: they all start with so. david: will today's rally repeat itself tomorrow. today was a bernanke rally. are people going to take profits tomorrow? we'll see. a busy day. "money" with melissa francis is next. hi, i'm phil mickelson.
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i've been fortunate to win on golf's biggest stages. but when joint pain and stiffness from psoriatic arthritis hit, even the smallest things became difficult. i finally understood what serious joint pain is like. i talked to my rheumatologist and he prescribed enbrel. enbrel can help relieve pain, stiffness, and stop joint damage. because enbrel, etanercept, suppresses your immune system, it may lower your ability to fight infections. serious, sometimes fatal events including infections, tuberculosis, lymphoma, other cancers, and nervous system and blood disorders have occurred. before starting enbrel, your doctor should test you for tuberculosis and discuss whether you've been to a region where certain fungal infections are common. don't start enbrel if you have an infection like the flu. tell your doctor if you're prone to infections, have cuts or sores, have had hepatitis b,
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have been treated for heart failure, or if, whilen enbrel, you experice persistent fever, bruising, bleeding, or paleness. [ phil ] get back to the things that matter most. ask your rheumatologist if enbrel is right for you. [ doctor ] enbrel, the number one biolog medicine prescribed by rheumatologists.
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so let's talk about coverage. based on this chart, who would you choose ? wow. you guys take a minute. zon, hands down. i'm going to show you guys another chart. pretty obvious. i don't think color matters. pretty obvious. what'sretty obvious about it ? that verizon has the coverage. verin. verizon. we're going to go to another chart. it doesn't really matter how you present it. it doesn't matter how you present it. verizon. more 4g lte coverage than all other networks combined.


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